Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In China Gerui Advanced Materials Group Ltd. (CHOP) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in China Gerui Advanced Materials Group Ltd. (“China Gerui” or the “Company”) (NASDAQ: CHOP) of the opportunity to seek the role of lead plaintiff in a federal securities class action lawsuit filed against China Gerui and certain executives and directors.
A complaint has been filed in the Southern District of New York on behalf of all persons who purchased China Gerui securities from January 11, 2012 through September 4, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, China Gerui made false and/or misleading statements that: (i) the Company’s goals for growth included introducing new products and identifying new markets; and (ii) China Gerui had significant cash reserves.
On September 4, 2014, the Company announced that it had purchased a collection of antique Chinese porcelain for a cash consideration of $234 million.
Following this news, the price of China Gerui’s stock declined by $0.12, or nearly 20%, to close at $0.49 on September 4, 2014.
If you invested in China Gerui stock or options between January 11, 2012 through September 4, 2014, and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding China Gerui’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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